skysight-inc/HackerNews huggingface dataset:
Certainly within London, you'll have a hard time finding a startup founder who doesn't have a privately-educated upper-middle class accent, i.e. who doesn't have wealthy parents. And while there are startup accelerators focusing on helping groups like female entrepreneurs and black entrepreneurs (which is great don't get me wrong), there aren't any that focus on helping lower or lower-middle class entrepreneurs, i.e. those who don't have wealthy parents.
He'll be regarded as the moron that shorted a stock 140%(!!!) and then got caught
Reddit is experiencing service problems
He did endorse the would-be murderers. Major news networks literally played video of people on the floor of the chambers saying "Ted Cruz wants us to do this". https://www.google.com/search?q=cruz%20wants%20us%20to%20do%...
In Islam, loans are purely an act of charity. A person lends another person a certain amount of money, and they are not owed anything in return (tangible or intangible) other than that same amount of money.

In general, you're correct. People invest their money, with the possibility of profit or loss. One reason interest is prohibited is that the lender is contractually obligated to a profit regardless of the outcome.
> Legally speaking, Robinhood is a private entity with no obligations to provide users the ability to trade.

This is mostly false. trading platforms are regulated by a bunch of orgs like the SEC, they absolutely cannot do whatever they want, there are heavy regulations on these activities or it would be easy for a broker to scam their clients out of their money with backroom deals with this or that third party and create conflict of interests.
Market makers on exchanges generally have a contractual uptime obligation if I am not mistaken, but I'm not sure that applies when talking about payment for order flow.
Cruz agrees with AOC. AOC took the opportunity to tell Cruz he "almost had me murdered 3 weeks ago":

https://twitter.com/AOC/status/1354848253729234944
Are they banning people from trading the stock or trading the stock on margin? On margin would be reasonable, if the volatility of the stock becomes very high, the broker is taking a credit risk on its client it may not want (plus suitability consideration). It may also make sense to restrict access to certain stocks if they are deemed too complicated/dangerous to retail investors. But I doubt the suitability would be a function of a market movement.

Or is the platform assuming that its clients are doing market manipulation by coordinating on reddit to push the price up, and wants no part to a crime being committed.

Just speculating, but can think of some reasonable reasons.
I heard this about another brokerage, too... Maybe not such great news for that lawsuit?
I was just sort of following the whole circus without any interest (maybe a slight short interest even) and even I'm really angry at how this has been done.

Absolutely disgusting, people need to go to jail for this, you can't get away with punitive fines that are less than what the hedge funds would've lost on the trade itself.

I hope regulators step in and preserve all correspondence + records on why this decision was made. But somehow, I don't think this will happen. They will lose documents, texts and chats mysteriously and that will be that.

Only hope is whistleblowers leaking stuff to the media.
RH must think that paying any resulting 'fine' will be much less than what Citadel would have lost otherwise.
Why is your lack of preparation unfair? Melvin isn't using Robinhood to trade, they chose a method that provides more reliable service.
If you plan on continuing trading, it is going to be difficult to avoid doing business indirectly with Citadel, they are a major market maker.
> I'm friends with a lawyer who says we have a good case for a class action lawsuit.

There's a huge chasm between "I'm friends with a lawyer" and "we are preparing a class action suit."
Ask HN: What Are the Alternatives to Robinhood?
I have used Vanguard, Etrade and M1 finance (https://www.m1finance.com/). I heard good things about Interactive Brokers. What are the other ones. Would love to see some research on this.

What about Ally or Alpaca? Can one trade using those banks (api) ?
Clauses like this are put in there to try and protect from nuisance lawsuits. But in a case like this, it will certainly not protect them.
> voting on posts and karma

I agree that this is Reddit's main feature. However it isn't necessarily good. It is basically an amplification of "interest" whether that is good or bad. Assuming that votes represent general quality is a dangerous mistake.

> continually polished user interface

Ok, this must be a joke.

> Design a decentralized protocol that can handle voting/karma, while also incentivizing developers of clients.

In order to do this in a decentralized manor you need to choose who's votes you trust. This is a very interesting problem and solving it may be helpful even in the context of a centralized network.
Section 230(c)(2) explicitly protects service providers who remove content that they deem to be “otherwise objectionable.”
> sexual abuse is a visceral trauma

No argument.

It's because of negative attributes it's being used in that analogy.
The same people who were pumping and dumping cryptocurrencies and crypto tokens. Those who trade for lolz and profit.
I think this is the way to go. The only central database where I officially put my textbook choices on record is the bookstore order. The department collects syllabi, but they aren't centralized beyond that, and they make no effort to standardize the format.

If you are interested in just a small number of courses just Googling it will surely tell you what the book is. But for a school-wide list the bookstore is probably the only option.
And support for when it doesn't go to plan. An entrepreneur parent will empathize, as odds are they've experienced setbacks themselves.

Most ideas and first attempts fail, I'd imagine people are more likely to try again if they're not catching flak from their parents that they didn't get it right the first time.
I've read (in connection with Cybetruck's road-legality) that the US doesn't really have that strict regulatory approvals. Don't know for sure as I'm not American nor do I work with car certification.

>There is a major difference between the self-certification standards in the United States and Europe's homologation rules. In the US, manufacturers build their cars to be roadworthy and they are checked by agencies on a random basis. In Europe, "50 to 60 regulations must be observed for vehicles," Teller said. How pickup trucks are tested also differs greatly in the US, where most light-duty models are exempt from passive safety and pedestrian protection.

https://carbuzz.com/news/tesla-cybertruck-wont-be-legal-in-e...
Robbing Hood
> A fairly simple workaround would then be to charge a monthly fee instead, and you would then end up with something that in practice is more or less the same.

No. Islam bans all these workarounds. What you describe is still a money for money exchange. Interestingly enough, Islam does not just ban interest, it has a concept of Riba, which includes interest/usury, but encompasses other transactions as well. What you describe falls squarely under Riba.
I would never have thought that the political divide would be broken by reddit/discord "amateur" investors. Ted Cruz, AOC, Donald trump jr (Shame on twitter for banning Trump) ALL agree that it is probaly morally wrong to prevent amateur traders from betting against hedge funds.

Hedge funds shouldn't be bankrupted by a single loss like this. Its unacceptable. Capitalistic greed shouldn't be bailed out, the people bailing them out shouldn't have a position on the issue as well.
BS they closed their shorts....they shifted them to shell companies or to complicit 3rd parties so they could claim they unloaded the shorts publicly.
I clicked the link, but I see no evidence of an actual lawsuit being filed?

Instead I see a meme forum that glorifies poor decision making, with a post saying "My friend is a lawyer and she says we have a good case?"

Don't get me wrong, I've got my popcorn ready to go on this. But I thought from the title this would be a mod-post with actual details for a real lawsuit, not just some guy saying what people want to hear.
And "applies to everyone" should mean "applies to the entire market for GME". If you halt trading, you halt it for everyone.
> Retail is quickly learning the true cost of "commission-free" investing.

But what is the alternative? Other brokers (eg TD) have done the same as Robinhood. So what is retail to do? It seems like anywhere people would attempt to do something like what’s been going on with GME, would respond in the same way as RH to the pressure of the powers that be.
The GameStop Reckoning Was a Long Time Coming
Wear a Weird-Looking Mask
This is what I don't get. Why do they care if an investor is buying GME shares with their own money? They could easily disable margin trading. I can't point to anything other than blatant manipulation.
Except with Islam, since its texts are clear enough to warn about and prohibit what you're describing. Don't lump all religions together.
My only question is how this will be viable since the RH user agreement states:

>>"I understand that Robinhood may at any time, at its sole discretion and without prior notice to Me: (i)prohibit or restrict My access to the use of the App or the Website or related services and My ability to trade, (ii) refuse to accept any of My transactions, (iii) refuse to execute any of My transactions, or (iv)terminate My Account. "

[0]: https://cdn.robinhood.com/assets/robinhood/legal/RHF-RHS%20U...
There is a timing issue at play too, even if that's true. Say you wanted to migrate off elsewhere - it could take days for funds to settle between selling -> buying on another brokerage. By that time they possibly could have covered the shorts.
> You pay pennies more per share

To clarify: you will never pay more than market price (i.e. you will never have to pay more than the best order sitting on the book). Citadel or whoever will only internalize your order if they're willing to offer you a better price than market price. Otherwise RH is obligated to match your order with the best price currently available.

They are willing to do this because they would prefer not to leave orders sitting on the books, and there's a fee for taking orders off the books which they would prefer not to pay.
>This idea that you can stick a round wheel in some of these terrible sports cars and hypercars and it makes them safe is the height of stupidity.

Nobody said that.
Yeah the whole point of selling your orders is that retail traders are mostly "uninformed" and likely won't move the market. WSB basically showed that's not always the case.
https://www.bloomberg.com/news/articles/2020-12-16/robinhood...
In your eagerness to paint me as a hypocrite, you forgot one important little detail: I never implied Tesla invented electric cars.

No clue what that cmdrtaco quote has anything to do with this conversation, but let me be clear here: you're the one giving Telsa credit for things they didn't do, not me.
And what if their decisions cause it to crash?
Drop a small loan of a million dollars on an idiot, and he ends up being President for 4 years.
These people are Evil.
Going this route makes sense if you think you can't win in a centralized manor. Of course I suspect the people in charge of Google+ were sure that they could win so why bother with the centralization?
>Couldn't these users execute these trades elsewhere

Not really, it takes days to withdraw money.
Also they end up customising how much moving the steering wheel turns the actual wheels for each race. For example at Monaco they end up making the limits of the steering wheel move the actual wheels far more than on a faster circuit.
Reddit is almost certainly covered by 230 in this instance. RH is a tougher question, but I'd argue they are probably fine. If either has liability (particularly RH) it will be under other laws or rules.
Covid 1/28: Muddling Through
I hope she doesn’t get involved much. Her inquiries are less about fact finding and more about owning the corps because capitalism is bad.

This will just become a stupid political grandstanding forum.
> BMW had those annoying turn signal stalks that would always be in the neutral position even if you had the turn signal on. I'm not sure if anyone liked them.

I love them and I was thrilled to discover that the Tesla Model 3 has them when I bought mine.
Both hosts at The Hill Rising have great commentary. Not always perfect, but generally much more piercing through the usual inane mass media coverage. (other coverage on the Hill is ok but more hit or miss IMO)
> Is a TOS a contract once agreed to?

A contract is only valid if its clauses are legal. TOS are regularly deemed invalid by regulators/courts and contracts made void. Ask the EU and their huge fines on FAANGS...
I am not a U.S. person, but isn't/shouldn't there be a set of rules for the provider of a brokerage account. Sure, its their house, their rules, but how can they change the rules overnight? If what Robinhood did isn't illegal, then I suppose I had the wrong impression about the strength of financial regulations in the U.S. (If this happened in my home country, I would never participate in the markets again.)
Serious question: Has anyone ever been jailed for publicly saying they've closed a short position but not actually closing it all?

Is it equally illegal to say on CNBC that you closed it out, but to email your investors and tell them you didn't?

Is the legal issue that you're misleading your investors or that you're manipulating the market? Both?
I wonder what all of this means to Robinhood's planned IPO.
scotia itrade has also been reporting that they're down due to the volume of trades. The 'trade' button on the toolbar is gone...

but trades are still going through if you use the 'make a trade' option in the dropdown next to the trading account balances on the accounts screen

pretty sketchy
As a programmer, it's possible to do the same, just one decade later. Jack Ma argues in some talk that people should gain experience before starting a company. This mirrors the numbers that show that older founders have a much higher success rate. After having worked for a decade, there can be enough money to handle some years without income.

Bill Gates was not successful because he started young, but because his mother had the connections to IBM (see some other comment). That cannot be replicated with basic income.
This just means that you need cash or collateral to buy the shares, and they won't let you use leverage to buy it. This is very reasonable given the huge volatility on this stock. The price could very easily totally collapse, and IB would be left holding the bag if it's allowing margin purchases.
Correlation vs causation.

If you look at Iraq during the Ummayad dynasty (Umar II), there was a period of time when there were no poor people left to take charity (Zakat). Would be nice to see that again in "modern" financial economies.
They've already been sued by retail investors who have lost their cash in the past and courts have already shown themselves to be somewhat partial to "the gamified interface just made me spend $1k I could barely afford because it was so fun!" arguments that RH is liable.

This is a much bigger deal, some (not hedge fund!) people are going to lose a crapton of money on it, and people are probably going to sue them once that happens.

You can see this discussed elsewhere in the thread.
USC and Amazon Establish Center for Secure and Trusted Machine Learning
Well then why are they obligated to create a test suite?
And the guy that got caught telling people to assassinate AOC during the riot, blamed Trump in hindsight; while his prior tweets made it exceptionally clear that he did it of his own volition. That's called trying to blame someone else to save your own ass, blame shifting.
Is there a complete list of all brokers which stopped offering GME?

I see reports all over the place but it's hard to track whether some just blocked options or on the margin, which reports are true etc.

Edit: Best Ive found so far https://www.reddit.com/r/wallstreetbets/comments/l72tfu/robi...
Viewfinders are also usually designed to have around 1x magnification with a 50 mm lens. That's why the viewfinders on crop DSLRs seem smaller than on a fullframe, because they literally are 2/3rds the size.
>moral productive work and rearing children

I have a hard time with the idea that there is anything moral or immoral about work or leisure. In 50 years time, it's very unlikely anything 'work' I have done will matter.

Leisure activities are only immoral if they hurt yourself or others. If your activities lead you to become an overweight shut-in in poor health with few friends, sure. You could make the argument they are immoral.

I think you can be a retired dabbler and dilettante and absolutely live a 'good life'. At the end of the day, all that matters is that we live lives true to ourselves and our relationships with others. All of our accomplishments are dust in the wind, and will be forgotten.
Your link explains what actual naked shorting is, you should read it. It says nothing about re-lending.

Naked shorting is not "re-lending", it's a very specific technical thing where you sell the stock without owning or borrowing it at all. Naked shorting results in failure to deliver.

Stock trades settle a couple of days after execution, so what it means in practice is that Alice "buys" the stock from Charlie, then 2 days later when settlement should happen and the share and money are supposed to actually change hands, Charlie goes oops I don't actually have the stock. Then the trade is undone.

In effect Charlie duped Alice into a fake trade that artificially depressed the market price.

It's an egregious market manipulation tactic and has nothing in common with the practice of lending or re-lending shares, in fact there is not a single share involved at all.

If you fail-to-deliver enough you'll get booted by other market participants and/or the SEC.
To be clear, Robinhood did not "halt trading" on these stocks, they disabled buying while allowing users to still sell shares. This effectively encourages users to sell.
Words have context around them
To be fair, those transactions are also usurious, because they increase the price of the asset in exchange for postponing payments. There are several Hadiths (narrations) that prohibit that transaction.
> Robinhood probably is also trying to protect most of its users from being the last ones holding the hot potato

This narrative is false. Robinhood users are executing a short squeeze on Melvin Capital, who have shorted the stock which gives them an obligation to buy the stock when their short expires at whatever price it exists at. They stock is also "over-shorted" (sorry I'm not wise in this domain), so they are literally obligated to buy at whatever price the stock is at.

The hot potato holders are those who have to cover their short position. Robinhood traders are not these users; no casual retail trader short stocks.

tl;dr Robinhood and others are participating in collusion and market manipulation to prevent Robinhood users from finishing a short squeeze which would extract billions from Melvin Capital, who have already received a multi-billion bailout on their ridiculous short position
At this point I regret using it and while I have some limited experience with both Ping and Okta I think I'm ready to move us to Auth0.

AWS makes a simple move between user pools inexplicably difficult. They don't even offer an export and import in the same file format as far as I know (bulk export is all JSON via the CLI and import is CSV, but maybe I missed something).

This is ridiculous in my opinion given that once a pool is configured you cannot change attributes (say, turning on a middle name field).
> Most people are buying small amounts just to f##k with the hedge funds, and they are outspoken about it.

I think the funniest part about this is that it is rationally irrational.

It's irrational from a market perspective, Gamestop really isn't fundamentally worth this much, everyone who invests ought to lose the money. Short sellers ought to make bank on it.

And then comes WSB and offers a different reason: Buy a couple of shares and hold just to punish the short sellers. It's irrational in the market sense, but it's completely rational from an internet mob sense. They're not out to make money, which is the normal rational decision-making process that all the big players are accustomed to. This mob is out for blood, and they're doing it for shits and giggles. Of course the big market players are upset, because the mob has money and are wielding it "wrong"!
True colors.
What about the people that already bought through Robinhood and were trying to double down to maintain their position? Those people are being made to lose money too.
It's a simple math question. SEC fine will not be close to the billions they stand to lose. Nakedly illegal, and everyone knows it.
So are they taking responsibility for all my trades? Or just the ones where I stand to make money? They won't stop you from losing thousands on other terrible positions.
I've read the article twice now, where does it mention the safety risk?
> Melvin doesn't have a short position anymore.

Source? If I was caught in a short squeeze, this is exactly the kind of announcement I would circulate to prevent the price from going any higher.
And still, tons of small businesses all over the world are using Facebook as an advertising platform and spending thousands of dollars/euros on them. It's a matter of time until enough of them find out the data those ads use to "think" is garbage and we see a #facebookgate or something similar.
Just because GME-as-ownership-unit may be overvalued, does not necessarily mean it is overvalued for GME-as-contract-closure-instrument.

If you want to focus on GME-as-ownership-unit, as a share in a retail business, that's perfectly valid. But that's not the only perspective.
This?
https://www.clockworkpi.com
Why? I've never found any upsides in the design and it just makes it harder to know if your signal is on and to cancel it.
It's not just Robingood! I'm on Schwab and they blocked trading with GME this morning (didn't try it but SELL might still be open)
A nice user interface is of no use if you can't use said user interface to do any actual trades (the whole reason you are with them).
If it's really just the screen refresh that's to be avoided, I think just comparing old download /new download with "diff -q" would be a reasonable solution. Of course, perhaps the Kindle doesn't have a diff binary. But maybe it has "sum" or "md5sum" or something else in that space.
Well, what are people going to do about it?

Look at Facebook and Google, they keep abusing their users, but without a good alternative, there’s very little to do about it.

Edit: eloquently put by a sibling comment, the issue isn’t having an alternative today, but what would happen when those other alternatives are faced with the same conflict of interest as RH is facing, and the answer is that they would probably react the same way, here’s the link: https://news.ycombinator.com/item?id=25947300
This case is not about lost damages and I doubt that is the motivation for someone like AOC getting involved. The narrative surrounding this whole thing has become the little guys have pulled one over the hedge funds and now the wall street is changing the rules. The bad trade that was done here was when GME was shorted to 140%, and now that retail has made a win, everything is being done to save the shorts. All this is highlighting for many more people in how the "game is rigged".